Lightyear Network Solutions CEO J. Sherman Henderson Addresses
COMPTEL Attendees and Discusses Increasingly Important Role of Internet
Telephony and Wireless for Business Applications

-- Henderson Elected to COMPTEL’s Executive Committee --

COMPTEL PLUS Spring 2011

March 24, 2011 07:30 AM Eastern Daylight Time

LOUISVILLE, Ky.--(BUSINESS WIRE)--Lightyear Network Solutions, Inc. (OTCBB: LYNS) (www.lightyear.net),
a provider of telecommunication services to business and residential
customers throughout North America, reported that J. Sherman Henderson
III, Chief Executive Officer of Lightyear, discussed the increasingly
important role that VoIP (Voice over Internet Protocol) and wireless
telephony will have in the business community. Mr. Henderson made his
remarks as an Executive Roundtable panelist at the COMPTEL Plus Spring
2011 Convention & Expo, which was held March 20-23 in Las Vegas.

“We believe that VoIP, including SIP (Session Initiation Protocol) with
its capacity for multimedia communication applications, will continue to
be an integral part of overall communications as telecom continues to
evolve,” Henderson said. “We also expect to see an increase in telecom
firms capitalizing on international markets in the VoIP space.”

VoIP is continuing to gain market acceptance at the enterprise level.
Its benefits, including low rates, ease of usage, expanded feature sets
and increasing reliability/quality, make it an important industry
driver. Total VoIP revenue in the United States tops $10.4 billion and
is expected to grow at a 17 percent CAGR from 2010 to 2013, according to
U.S. Business VoIP Overview.

“We also believe there is a significant opportunity in the wireless
sector to capitalize on mid-size companies, which is a market that
Lightyear expects to focus on. Wireless customers total approximately
303 million in the United States, generating approximately $160 billion
in revenue. The convenience of mobile devices, faster data speeds and
smartphones continue to lure new consumers to the wireless networks.”

At the conference, Henderson was elected to the Executive Committee of
COMPTEL, having previously served as Chairman of the organization for
six terms, most recently in 2008. COMPTEL is the leading industry
association representing competitive communication service providers and
their supplier partners.

Randy Ammon, Chief Operating Officer of Lightyear, also participated in
the conference as a Technology Forum panelist, and discussed recent
developments in the wireless and wireline markets.

“We were pleased to have had Lightyear so well represented at this
year’s conference,” Mr. Henderson added, “and appreciate the recognition
that Lightyear has achieved in the industry.”

About Lightyear Network Solutions, Inc.

Through its wholly owned subsidiaries, Lightyear Network Solutions
provides telecommunication services to large, medium and small
businesses and to residential consumers throughout North America.
Lightyear’s product offerings include local PRI and digital T1, enhanced
Internet services, MPLS, Ethernet, Voice over Internet Protocol (VoIP),
local and long distance service, and conferencing. Lightyear also offers
wireless services to customers in the U.S. through wholesale contracts
with multiple wireless providers. Lightyear built its own VoIP network
in 2004 to enhance its product offerings and has partnered with some of
the most prominent names in telecom including: Sprint, Verizon, AT&T,
Level 3, PAETEC, CenturyLink, XO Communications, Intelliverse,
BroadSoft, Cisco and ADTRAN. Lightyear Network Solutions is
headquartered in Louisville, Ky. Additional information can be found at: www.lightyear.net.

Forward-Looking Statements

This press release contains “forward-looking statements” for purposes of
the Securities and Exchange Commission's “safe harbor” provisions under
the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under
the Securities Exchange Act of 1934. These forward-looking statements
are subject to various risks and uncertainties that could cause
Lightyear’s actual results to differ materially from those currently
anticipated. These forward-looking statements may include, without
limitation, statements about our marketing and acquisition
opportunities, business strategies, competition, expected activities and
expenditures as we pursue our business plan. Although we believe that
the expectations reflected in any forward-looking statements are
reasonable, the risks and uncertainties which could cause our actual
results to differ materially from those currently anticipated includes
changes in market conditions, our ability to integrate acquired
operations, the ability to obtain additional financing on satisfactory
terms, customer acceptance of products, regulatory issues, competitive
factors, or other business circumstances and risk factors described in
our filings with the Securities and Exchange Commission. Lightyear
undertakes no obligation to revise or update any forward-looking
statements in order to reflect events or circumstances that may arise
after the date of this press release.